TriMetals Mining Inc. Obtains Approval for the Plan of Operations on the Utah Portion of the Gold Springs Project Area
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 29, 2015) - TriMetals Mining Inc. (TSX:TMI) (TSX:TMI.B) (OTCQX:TMIAF) (OTCQX:TMIBF), (the "Company"), is pleased to announce that it has obtained approval for its Plan of Operations on the Utah Side of the Gold Springs Property. On September 22, 2015, the US Bureau of Land Management (BLM) Cedar City Office of the State of Utah issued a Record of Decision ("RD") and a Finding of No Significant Impact ("FONSI") for the Environmental Assessment (EA) covering the Utah portion of the Gold Springs project. The acceptance of the Environmental Assessment means that the Company is free to begin the work proposed in its Plan of Operations, which envisions staged exploration activities focused on the expansion of the Jumbo resource and the future testing of the 8 kilometre long Jumbo Trend. Exploration and resource expansion activities are now authorized to proceed without the need for additional permitting.
Ralph Fitch, President and CEO stated "The issuance of the RD and associated FONSI is an important step in the advancement of the Gold Springs project. The Environmental Assessment included studies of plants, animals, and archaeology as well as public comment, so our ability to move forward following this process is an important testament to the location and mining friendly jurisdiction in which Gold Springs is located. TMI greatly appreciates the assistance from the BLM Cedar City office and looks forward to continuing to work with them in the future. Our immediate plans are to complete plans for resource expansion drilling at Jumbo and to construct additional access roads and drill pads to be utilized in future drill programs. We will make an announcement when drilling is underway. It should be a very interesting program because we will be testing for the continuation of the "higher grade and longer intercept" style of mineralization we found in J-14-018 in 2014 which intercepted 138.7m of 1.01 gt AuEq* (PR Nov. 12, 2014)".
The Company is already operating under an approved Plan of Operations on the Nevada side of the Gold Springs project where the Company's Grey Eagle resource block is located.
* Gold equivalent (AuEq) calculations reflect gross metal content using a gold/silver price ratio of 57.14, and have not been adjusted for metallurgical recoveries.
About TriMetals Mining Inc.
TriMetals Mining Inc. is a growth focused mineral exploration company creating value through the exploration and development of the near surface Gold Springs gold-silver project in mining friendly Nevada and Utah in the U.S.A.
The Company's approach to business combines the team's track record of discovery and advancement of large projects, key operational and process expertise, and a focus on community relations and sustainable development. Management has extensive experience in the global exploration and mining industry.
The Company's common shares and Class B shares are listed on the Toronto Stock Exchange under the symbols "TMI" and "TMI.B" and the common shares and Class B shares also trade on the OTCQX market under the symbol "TMIAF" and "TMIBF". Additional information related to TriMetals Mining Inc. is available at www.trimetalsmining.com and on SEDAR at www.sedar.com.
Forward Looking Statements
Certain statements contained herein constitute "forward-looking statements". Forward looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "envisions", "move forward", "look forward", "continuing", "will", "should" and similar expressions. These forward- looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations if known and unknown risks or uncertainties affect our business or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, risks of the mineral exploration industry which may affect the advancement of the Gold Springs project, including possible variations in mineral resources, grade, recovery rates, metal prices, capital and operating costs, and the application of taxes; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; availability of equipment and qualified personnel, failure of equipment or processes to operate as anticipated, changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated; regulatory, environmental and other risks of the mining industry more fully described in the Company's Annual Information Form and continuous disclosure documents, which are available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include: the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other exploration results; the continuing support for mining by local governments in Nevada and Utah; the availability of equipment and qualified personnel to advance the Gold Springs project; execution of the Company's existing plans and further exploration and development programs for Gold Spring, which may change due to changes in the views of the Company or if new information arises which makes it prudent to change such plans or programs.
Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, TMI assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this press release describe the Company's expectations as of September 29, 2015.
Contact
TriMetals Mining Inc.
Ralph Fitch
President & CEO
303.584.0606
ralphfitch@trimetalsmining.com
TriMetals Mining Inc.
Matias Herrero
Chief Financial Officer
303.584.0606
mherrero@trimetalsmining.com
